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Now Accepting Consignments to the Only Official Philadelphia ANA Auction! Stack’s Bowers and Ponterio Official Auction of ANA World’s Fair of Money August 2-12, 2012 | Philadelphia, Pennsylvania Consign World Coins and Paper Money by May 14, 2012 Consign U.S. Coins and Currency by June 8, 2011

Standout Mexican Coin Selections from Our 2011 Auctions

MEXICO. 1/2 Escudo, 1840-GaMC. AU.

MEXICO. 4 Escudos, 1724-D. BOLD VERY FINE+.

Realized $28,320

Realized $14,160

Realized $32,450

MEXICO. 4 Escudos, 1860-ZsVL. NGC AU-55.

MEXICO. 8 Escudos. 1713-OxMJ. NGC MS-63.

Realized $30,680

Realized $20,650

MEXICO. 8 Escudos, 1761-MM. NGC AU-55.

MEXICO. 8 Escudos, 1784/3-FF. EXTREMELY FINE.

MEXICO. 8 Escudos, 1823 MoJM. NGC AU-55.

MEXICO. 8 Escudos, 1866-CA-FP. EXTREMELY FINE.

Realized $35,400

Realized $35,400

Realized $15,340

MEXICO. Mexico City. 8 Reales, 1733-MO MF. Mexico City. NGC MS-63.

MEXICO. 8 Reales, 1741-MF. NGC MS-64.

MEXICO. 50 Centavos, 1907. NGC PROOF-65.

Realized $17,700

Realized $6,490

Realized $20,060

MEXICO. War of Independence Veracruz, Zongolica. 8 Reales, (1812). NGC VF-35.

Realized $32,450

Call today to speak to a consignment specialist about maximizing your opportunities in Philadelphia! 1.949.253.0916 California | +1.212.582.2580 New York | 852.2890.5767 Hong Kong 1063 McGaw Avenue Ste 100, Fitch, Irvine, CA 92614 info@stacksbowers.com • www.stacksbowers.com

California • New York • New Hampshire • Hong Kong SBP USMEX 2.06.12


DIREC TOR’S COLUMN US MEXICAN NUMISMATIC CONVENTION I am very pleased to announce that we have decided to hold our first annual convention in Scottsdale Arizona November 2-3, 2012. The response to our convention survey in December was very interesting with a significant percentage of members in favor of a convention, a number of them very enthusiastically. We spent a considerable amount of time discussing locations suggested by the directors and members. Our primary consideration was ease of access to a major airport followed by weather, quality restaurants, shopping, and entertainment. We then worked around the considerable number of coin shows to come up with a date that has minimal conflicts. The convention will be held at the Hilton Resort. The resort is located in old town Scottsdale minutes from Scottsdale Fashion Square Mall. Old town Scottsdale has evolved into a very popular destination for winter visitors with dozens of excellent restaurants, theaters, hundreds of boutique shops, golf courses and other quality entertainment. Daytime temperature at this time of year is historically about 80 degrees. For those of you who like to feed the one armed bandits, there are casinos close by. The resort itself features all the amenities you would expect including a huge heated pool, spa etc. Room rates will be $149 with free parking and free shuttle service to all local restaurants and shopping. There are a number of other hotels in the area, both higher and lower priced. The discounted room rate will be available for three days before and three days after the convention for those of you who want to hang around. Our plan is to hold two full days of convention activities on Friday November 2 and Saturday November 3. We have just started organizing activities for the event so this is all very general. The convention will include a bourse area, display section, open tables and meeting area. The bourse will have tables with cases for rent to dealers or members and we anticipate most of the major dealers will attend. A portion of the bourse area will be set aside for displays. We already have some interesting commitments in this area that I am sure everyone will enjoy. There will also be unreserved open seating tables in the bourse area available for members to chat, buy, sell and trade their own material. A meeting area will be set up for a series of seminars on a variety of subjects. This is an advance notice of the event so you can put it on your calendar. Within a couple of months we will be able to firm up the details including reservation contact information, dealers attending and details about the displays and seminars. I need help with this. I particularly need someone who can handle promotion of the event. This includes press releases to all of the trade papers, local newspapers and clubs plus just generally promoting the convention. I also need someone to help on a local level regarding security, table cases and lights etc. If you would like to volunteer, give me a call.

Cory Frampton Executive Director cory@mexicancoincompany.com Cell: 602 228-9331 1


CURRENT OFFICERS Cory Frampton, LM 4

Joe Flores, LM 2

Elmer Powell, LM 9

Executive Director

Director

Director

P.O. Box 5270 Carefree, AZ 85377 (602) 228-9331 E-mail: cory@mexicancoincompany.com

P.O. Box 4484 Stockton, CA 94204 (204) 462-0759, Fax (209) 462-3157 E-mail: pepef44@sbcglobal.net

P.O. Box 560745 Dallas, TX 75356 (214) 354-2524 E-mail: ecp.adp@sbcglobal.net

Kent Ponterio, LM 3

John C Hughes, LM 19

Simon Prendergast

Director

Director

Editor

18061 Fitch Irvine, CA 92614 (800) 458-4646, (949) 253-4091 E-mail: keponterio@bowersandmerena.com

75 Valencia Court 011 44 1993 868166 Portola Valley , CA 94028 E-mail: simon.prendergast@lineone.net E-mail: johnhughes@cygnethealth.co.uk

FORMER OFFICERS Don Bailey, LM 1

Verne Walrafen

Richard Ponterio, LM 7

Honorary Director Former Executive Director

Webmaster

Former Director

(785) 945-3800 E-mail: walrafen@gmmnut.com

(619) 652-7875, Fax (949) 853-4091 E-mail: auctions@bowersandmerena.com

(951) 652-7875, Fax (951) 929-1300 E-mail: donbailey_98@yahoo.com

Sal Falcone Former Director San Jose, CA 95125 (408) 292-2221, Fax (408) 227-8291

ASSOCIATION CONTACT INFORMATION US Mex NA P.O. Box 5270 Carefree, AZ 85377 (480) 921-2562, E-mail: info@usmex.org www.usmex.org Following is contact information for the Numismatic Society of Mexico:

Sociedad Numismática de México Contact: Roger Charteris rchr1937@hotmail.com

Sociedad E-mail: contacto@sonumex.org.mx and its web page is www.sonumex.org.mx Dues for the Sociedad are $50 per year for US residents.

ADVERTISING RATES Prices shown are for four issues paid in advance on an annual basis. All ads will be printed in color.

SIZE

RATE

SIZE

Inside & Back Covers $1,000 Quarter Page Full Page $800 Inserts 8.5x11 per issue plus printing Half Page $450 Full Page ad is 7”w x 10”h / Half Page 7”w x 5”h / Quarter Page 3.5”w x 5”h. Camera ready copy must be provided by advertiser. Advertisers must be members. Next ad and article deadline is May 1. 2

RATE $250 $200


MEMBERSHIP Membership Dues: Regular Membership with digital copy of the Journal Regular Membership with printed copy of the Journal Regular Membership with printed copy of the Journal outside the US

$20 $30 $40

Life Memberships are available at the following rates:

AGE

MEMBERSHIP FEE

70+ 60+ 50+ Younger

$200 $300 $400 $500

Checks should be made payable to USMEX Numismatic Association.

NEW MEMBERS Adam Biagl Jaime Perez Chapa Eric French Richard Frost Wayne Haug Howard Kozanke Robert Lande Mar Marquez Roman Martyn Kevin Overson Norm Robbins Bruce Sanders Jack M. Suskin James Webb

Rancho Cordova, California Clute, Texas Maynard, Massachusetts Vidor, Texas Tacoma, Washington Redmond, Oregon Silver Spring, Maryland Pardeeville, Wisconsin Innisfill, Ontario, Canada Richfield, Minnesota Dewey, Arizona Dennison, Texas Hummelstown, Pennsylvania Bellingham, Washington

NEW LIFE MEMBER Alex Siegel

Houston, Texas

PASSWORD

tierra

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FROM THE EDITOR I have had no response so far to my request for possible contributions to two new features: ‘New Finds’, which will briefly record uncataloged discoveries, or ‘Notes and Queries’, which would give members the opportunity to ask questions about a particular note or coin, but, ever optimistic, I now make another appeal. We do, however, have two other innovations in this issue: a book review - this time of Carlos Abel Amaya’s Compendio de la Moneda de la Revolución Mexicana – and a column from Kent Ponterio on underrated numismatic items. In addition, as well as the final part of Robert Perigoe’s study of the Estado de Sonora provisional issue and an article on the 1915 Zapatista one centavo, we have Max Keech’s thorough study of the imagery on the Suprema Junta coinage. Simon Prendergast simon.prendergast@lineone.net

LETTER Dear Editor With reference to Angel Smith’s article on “Known Examples of the Early ‘Muera Huerta’ Pattern” in the last Journal, I enclose an image of another example, photographed in 1982. My notes state “Weight 22.08 grams. Plain edge” and suggest that it was probably acquired in Mexico many years before 1982. Angel Smith has assured me that this example is not one of the five that he recorded. Clyde Hubbard

NEWS 2012 Convention As detailed in the Director’s letter, the 2012 USMexNA Convention will be held on 2-3 November at the Hilton Scottsdale Resort, 6333 North Scottsdale Road, Scottsdale, Arizona. The convention will include a bourse area with tables for dealers or members, a display section with a variety of exciting exhibitions, open tables and a series of seminars from experts in their field. 4


The Túmin – an alternative local currency Organizers in Espinal, a hill town in Veracruz state, have created an alternative local currency. It is called the “túmin,” which means “money” in the local Totonac language. Each túmin is the equivalent of one peso, but it can only be spent in the region. The aim is to urge merchants to accept payment in a combination of pesos and túmin, which would spur more spending. After more than a year, about one hundred storeowners, tradesmen, doctors, dentists, salon owners, pharmacists, butchers and food vendors are on board and the túmin has also stimulated local handicraft makers. The brain behind the experiment is Juan Castro Soto, a graying community organizer. Castro and fellow organizers decided to hand out 500 túmin to a group of citizens and set a rule that the local currency would be used for only 10 percent of the value of transactions. If a vendor had a kilo of fruit to sell at 50 pesos, he or she would collect 45 pesos and five túmin. Slowly the system cranked into service, and since its inception in November 2010 some citizens are clear on its benefits. “I feel that it is a way for us to support each other,” said Ana Bertha Escalante, a local dentist who takes partial payments in the currency. This local currency was put into circulation whilst Mexico celebrated the bicentennial of its independence. For many indigenous communities the celebration was a way of excluding minorities in the country. The túmin was thus an instrument of protest and when Castro designed the notes, he used famous paintings by Mexican artists Diego Rivera and Rufino Tamayo that he downloaded from the Internet as the background image for the one, five, 10 and 20 túmin denominations. Although such alternative local currencies are known throughout the world, the Banco de México says that Espinal may have committed “monetary rebellion” in violation of Article 28 of the constitution, which gives the bank the monopoly on printing money . There is a news item on the scheme (in Spanish with English subtitles) at http://www.youtube.com/watch?feature=player_ embedded&v=sk_nngb-UFo. MYLAR-D® CURRENCY HOLDERS PRICED AS FOLLOWS

BANK NOTE AND CHECK HOLDERS

SIZE Fractional Colonial Small Currency Large Currency Auction Foreign Currency Checks SIZE

INCHES 50 100 500 1000 4 3/4 x 2 3/4 $21.60 $38.70 $171.00 $302.00 5 1/2 x 3 1/16 22.60 41.00 190.00 342.00 6 5/8 x 2 7/8 22.75 42.50 190.00 360.00 7 7/8 x 3 1/2 26.75 48.00 226.00 410.00 9 x 3 3/4 26.75 48.00 226.00 410.00 8 x 5 32.00 58.00 265.00 465.00 9 5/8 x 4 1/4 32.00 58.00 265.00 465.00

Obsolete Sheet-End Open National Sheet-Side Open** Stock Certificate-End Open Map & Bond Size-End Open

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SHEET HOLDERS

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8 3/4x14 1/2 $20.00 8 1/2x17 1/2 21.00 9 1/2x12 1/2 19.00 18 x 24 82.00

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$88.00 93.00 83.00 365.00

100

$154.00 165.00 150.00 665.00

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$358.00 380.0 345.00 1530.00

**National Sheet Holder to be discontinued when sold out YOU MAY ASSORT NOTEHOLDERS FOR BEST PRICE (MIN 50 PCS ONE SIZE) YOU MAY ASSORT SHEETHOLDERS FOR BEST PRICE (MIN 10 PCS ONE SIZE) SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar D® is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516

 

LOIS & DON BAILEY & SON NUMISMATIC SERVICES

DENLY’S OF BOSTON P.O. Box 5101 Info 617-482-8477 Boston, MA 02205 ORDERS ONLY: 800-HI-DENLY FAX 617-357-8163 www.denlys.com

13165 W. Lake Houston Pkwy, Ste 1 Houston, TX 77044 281-687-6878

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BEHIND THE TABLE / ATRAS DE LA MESA by Mark Wm. Clark I left off last time with anticipation of the Santa Clara show here in California. About a week before that show, the owners, Collector’s Universe, made a public announcement that this was THE LAST Santa Clara show. It was not a profitable venture and they cancelled future shows in that location. Their Long Beach show will continue though there are problems there also. In the meantime with the restrictions on coin shows at the Santa Clara Convention Center lifted, there are several shows in the planning to fill the gap by California people. One will be in August, run by Scott Griffin who has the Old Mint show held in the old San Francisco Mint downtown on 5th St. at Mission St.( 24-25 February). I am still looking for details on another two shows that would have dates near those of the now defunct show. The Santa Clara show started out quiet and the buzz was a sadness that the show would not be continuing. Then sales started going steadily and I think that people felt that they should take advantage of all the material available here at the last show. It turned out to be a fairly active show with good sales in Mexican coins, currency and exonumia among other areas of interest. The Whitman Baltimore show was held the same weekend and reports we got through phone was that the show was on the slow side both in floor sales and the auction. I was off to Houston the first week in December and that show is becoming one of my favorites with very high interest in Mexican material. The enthusiasm of the collectors there is strong. There are a number of “students” of numismatics in attendance who are putting their accumulation of knowledge into print. It was a strong sales show for me in Mexican material. I took a quick trip to Mexico City the week after the Houston show and saw strong activity. Dealers were already having good holiday purchases and seeing people out looking for gifts along the numismatic lines. I always enjoy the Federal District at this time of year with the shoppers out and the lights on the streets and the Zocalo. The atmosphere is electrifying. The New Year starts with two of the biggest shows on the same weekend - the New York Intl and the FUN show. I have been going to the FUN show for decades since I used to live in South Florida. There is always strong activity in Latin American material, especially Cuba and the rest of the Caribbean and Central America. This year I took my Mexico material to test the market there and was pleasantly surprised at the reception. Real strong sales in currency and larger silver coins. Attendance of over 15,000 collectors and dealers makes for high interest, good finds and sales in both directions over the table top. Though still reasonable, hotel rates are rising but a little work on the travel sites will get you a deal but start as early as possible. Pre-paying can frequently get you a 20% discount. I was hoping that we would have a possible change in dates for the two shows in 2013 but again FUN and the NY Intl will be on the same weekend, 10-13 January 2013. One of these days they will realize that they might attract more US and overseas visitors if the two shows were on consecutive weekends. Especially if numismatists are coming from Europe and Latin America they might stay a little longer and attend BOTH shows. I think that would benefit everyone. 6


I had heard that the FUN show would be going back to Tampa after the 2013 show but their site has dates for the next three years and they are all in Orlando at the Orange County Convention Center. The show in 2011 in Tampa was not a big success. Leave it in Orlando please!!!! Maybe if there is a conflict some year, they could try it a week later. I’d like to see if that would prove having the two shows on different weekends would work!!! So, lastly it was another quiet Long Beach. I can’t blame the market for that as I had strong sales to other dealers. They are buying in response to a renewed sales demand elsewhere. The market is picking up but don’t use Long Beach to measure market activity. There are show policies being made that are not helping to attract dealers or the public collectors. Something has to change/improve to help bring back Long Beach to better days. The economy is improving and hopefully they can change things there to attract more activity and ride the tide upwards. An old friend John Grost who is the Bourse Chairman for the International Coin Club of El Paso (Texas) recently invited me to have a table at the show. I will be going there 17-19 February and hope to see some of you there. I believe this article may not get to you before the show but many of you are already planning to attend. It is a small show (60 tables) but I hear of real fun numismatic activity with lots of interesting material available and I am really looking forward to it. Back to the Mexico City numismatic scene - the Numismatic Society of Mexico / Sociedad Numismática de México will hold its next show 22-24 March at the same location, Hotel Del Prado. Unfortunately it the same weekend as the Whitman Baltimore show. I will be at the Mexico show for set-up on Wednesday and then in Baltimore Friday and Saturday. Hope you will come by and say hello at any of these shows mentioned above. Mark Wm Clark mwclark12@yahoo.com

Trust Your Coins to the

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6/17/11 3:02 PM


THE UNDERRATED COIN COLUMN by Kent Ponterio Mexican numismatics is a vast and broad field. Each issue we would like to focus on a specific coin, series or area of collecting which we feel is underrated or under-appreciated. The purpose of this column is simply to bring these underrated areas to the attention of the collector. The 1824 Mexican 8 Escudos This short lived one year type seems to forever loom in the shadows of the ever popular “Hookneck Eagle” of 1823. It has sometimes been referred to as the “Large Book” type: however when you really analyze its style, there is so much more. The book of the 1824 8 Escudos is very similar to that used for the 1823 “Hookneck” issue. However the word “LEY” is raised as on the 1825 issue instead of incuse as on the 1823 and stylistically there are slight differences. The liberty cap used for the 1824 issue is dramatically different from both the 1823 and 1825 issues and is unique to this year. Perhaps the most interesting feature of the 1824 8 Escudos is that the reverse die was produced using the same eagle punch that was used for the silver 8 Reales. Hence both the obverse and reverse design of the 1824 8 Escudos are unique to this year only. Yet for some reason this scarce one year type often goes seemingly unnoticed by collectors and can sometimes be purchased for little or no premium over what a common date would cost. In my opinion this is an underrated type that is a good value for the numismatic collector.

Book of 1823

Book of 1824

Reverse of 1824 8 Escudos

Book of 1825

Reverse of 1824 8 Reales

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WORLD & ANCIENT COINS APRIL 25-28, 2012 | ROSEMONT | LIVE & ONLINE

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Brazil Joao V gold 20,000 Reis 1726M, Fr-33, KM117 AU55 NGC HA.com/3019-57002

Australia New South Wales Holey Dollar 5 Shillings 1813, C/S on Mexico 8 Reales, KM2.9 VG08 PCGS HA.com/3019-61001

Ancient Macedon. Neapolis. Central American Republic Circa 500-480 BC. Silver stater. SNG Gold 8 Escudos 1828 Cr-F, KM17, Fr-1 ANS 411. (Costa Rica) Nearly XF, choice metal. XF40 PCGS HA.com/3019-01064 HA.com/3019-42003

China Republic Hung-hsien Dollar 1916, L&M 942, KM-Y332 MS64 NGC HA.com/3019-66001

China Manchurian Provinces 50 Cents 1907, L&M 488, KM-Y211 MS63 NGC. Rare. HA.com/3019-01130

Byzantine Empire Irene with Constantine VI (AD 780-797). Gold solidus. Sear 1591. Rare variety with Constantine’s name on obverse. Nearly XF. HA.com/3019-01069

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COMPENDIO DE LA MONEDA DE LA REVOLUCIÓN MEXICANA

Carlos Abel Amaya G., 2010. 458 pp., b/w illustrations, color plates. Text in Spanish reviewed by Ralf W. Böpple The coins that were issued during the Mexican Revolution fall under the broad numismatic category of “necessity issues”. They are generally subsumed (and thus collected and studied) as a special field within the scope of Mexican numismatics. Struck by different warring factions under often dire circumstances in makeshift campsites, there are hundreds of varieties, many of them very rare, often crudely struck, in all kinds of metallic compositions. When Hugh Guthrie and Merrill Bothamley published Mexican Revolutionary Coinage 19131917 in 1976, their book, commonly referred to as the “GB”, set the standards for the catalogization and categorization of the Mexican Revolution series for years to come. For decades, to be exact, because it is only now, 35 years later, that the Compendio de la Moneda de la Revolución Mexicana has been published, a book that is without any doubt the definite answer to the calls of all the collectors and numismatists who have increasingly bumped against the limits of the GB book. There simply might not have been a better person to put together such a tome. Carlos Amaya is the noted author of the groundbreaking Illustrated Price Guide of the Modern Mexican Coins 1905 to Date (Mexico City, 2008), a coin book in the truest sense of its meaning, as it brings together hundreds of varieties of modern Mexican coins with more than 3,000 detailed photographic illustrations. In short, a man who has studied and published on errors and varieties in coins and thus has developed the technical and systematical skills to depict and describe the fine details of even the smallest coins. Bringing these skills to the coins issued during the Mexican Revolution, he has mastered the massive challenge that this series poses for the serious student and collector. The book describes in detail all the coins that have been issued during the Mexican Revolution by the various factions. Following the practice established by GB as well as other authors, this includes all coins that fall outside of the regular production of the Mexico City mint. This means that it includes the “Zapatista” one and two centavos dated 1915 that were manufactured in the Mo mint. It also includes the Toluca 20c and 40c counterstamps on one and two centavos, respectively, which may or may not have been issued during the Revolution, but have from the earliest catalogs on been listed as Revolutionary coins. Amaya arranges the various issues following the method that has been used by GB as well as other authors and has become the standard, that is, it lists the coins by the state in which they were issued, and within a

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given state by the place where the coin was fabricated. Fortunately, research has progressed over the years to a point where there are only a few “enigmatic issues“ (coins with uncertain place of origin) left, which are also duly listed. Additionally, in his introduction, Amaya enters into a very brief discussion of coins that are rumored to exist, or could be existing according to documents that describe them, but of which no examples are known today. The numbering system is new, but again Amaya follows the practice set by former catalogers in that it assigns a separate number for different obverse and/or reverse dies, plain or reeded edges and different metals. There is the letter “A” for Amaya, followed by a two-letter abbreviation of the state of issuance and a corresponding consecutive number. All regular issues are cross-referenced with the corresponding numbers used by GB, Gaytán, Krause-Mishler, Utberg, Sánchez Garza and Wood, plus Leslie-Stevens for Zapatista coins and Woodward-Flores for the Oaxaca issues. Price estimates are given in up to four grades for the coins where reasonable information is available. Thus, to provide a concrete example, the famous “Six Star Muera Huerta Peso” issued in the town of Cuencamé in the state of Durango is assigned the number A-DO 4. To give an overview of the completeness of the listings, let me describe the entries for the regular Muera Huerta Peso with the so-called “dash and dot” border as an example. A-DO 8 stands for the common GB-87. A-DO 9 is the plain edge variety (GB-88). A-DO 10 the version in copper (GB-89). A-DO 11 is a version struck on a cast planchet (not in GB or any other reference). Finally, A-DO 12 makes reference to a peso struck in gold which is mentioned by Utberg. Although such a coin has never been confirmed, Amaya takes Utberg at his word and assigns a separate Amaya number to this issue. Who knows, maybe one day this coin will show up? One of the biggest challenges in cataloging the Mexican Revolution series has always been drawing the line between regular issues and off-metal strikes, trial strikes, patterns or simple war memorabilia or fantasy pieces struck during or even after the Revolution with real or invented dies. Here the Compendio takes the practice established by prior catalogs even further and assigns a separate entry to each and every issue, be they curious, enigmatic, or even doubtful pieces. For these entries, no cross-references or pricing are given. Moreover, the Compendio goes even further and lists known counterfeits of all qualities. Again, to use the Muera Huerta coins as an example: A-DO 13 is a well-known and dangerous fake of the Six Star in silver, followed by A-DO 14, which is a plastic imitation that should not fool anyone! A-DO 17 to 19 illustrate three original Muera Huertas of the regular dotted border variety that show the die breaks that are so typical for the issue with different grades of die deterioration. The detailed numbering system definitely is a progress on previous catalogs. Collectors tend to collect by catalog numbers, but the very nature of the Mexican Revolution series with its many unique or extremely rare pieces works against such a practice. It is almost impossible even to assemble a collection of all numbers of Krause-Mishler, the most rudimentary catalog of all. It quickly becomes obvious to the reader that Amaya is not a check list to follow. Collectors will have to sit down and make up their own list of what to collect, and Amaya provides them with a great amount of information on the varieties that exist, what the regular issues are and which coins are more of a pattern or trial strike character, and what the fakes are that any collector should get familiar with. It is this feature, the broad focus on everything that is out there, and not only on the regular - or supposedly regular - issues, that makes this work mandatory reading for anyone interested in Mexican Revolutionary coinage, be they a novice collector or an advanced student! The basis for the pictures used in the catalog was the Cortina collection, arguably the largest collection of Revolutionary coins ever assembled, so there truly is plenty of material. Some of it has never been published before, be it for its rarity, or for its profanity as a counterfeit to dupe the unsuspecting collector. In total, the

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first edition shows 916 coins, of which 742 are varieties of regular coins and 174 are errors, curiosities or falsifications. While describing and cataloging objects such as coins, errors can be made and omissions occur. It speaks for the high quality of this work and the meticulosity of its author that I have found exactly one error, and this one has already been corrected for the second edition! As far as omissions are concerned, I do not recall a single variety commonly known by the time the book was published that failed to be included in the Compendio. This is simply an incredible accomplishment given the heterogeneity of the series! Maybe devoted specialists of one or the other subseries have found their own varieties, but if these are not in the Amaya book, it is because such specialists have kept their discoveries to themselves, and so the shame should be on them, and not on the author of the Compendio! Nevertheless, there are definitely further discoveries to be made in the future, so it is still up to us collectors to keep our eyes open and our senses sharpened. So, where would any critique be coming from? Well, two numismatists who describe the same coin will come up with slightly different descriptions, as they will put their emphasis on different aspects. In this way, a cataloger will never be able completely to reflect the ideas of all collectors. As I have pointed out, the strength of the Compendio lies in the fact that it is based on the largest collection ever assembled, but as a consequence, this means that it finds its limit, how distant they may be, in items that have not been in that collection. As two examples for this observation may serve the medal made out of a 2 Pesos “Dobe Dollar” from Guerrero which was presented by Zapata to US ambassador Carothers (Walrafen collection, Richard Long sale 95, lot 120) or, from the same collection, the Guerrero 2 Pesos with “SUR” on the sun face (Richard Long sale 95, lot 115). Also, one may find some signs of “over-catalogization”, when differences are made in the position of hand punches, such as in the Amecameca 10 and 20 centavos issues (A-EM 5 to 9). In the same subseries, the contemporary counterfeit 50 centavos (A-EM 33) is usually collected along with the regular issues, which would be worth mentioning (and thus the coin would merit its own grid of cross references and pricing). Also, one could argue whether the Pancho Villa medal (Grove P-376a) designed by Sevilla should be included, or the medals of the infamous “General who never won a victory” Pablo González (Grove P-183-185), which were struck on regular gold, silver and copper coin planchets at the Mexico City mint. But, as I would like to reiterate, these are not errors and omissions, but simple questions of where to draw the line on the items that should and could be included in such a catalog - and to draw this line is in the sole discretion of the author. Nevertheless, it is my opinion that in a “Compendium of the Coins of the Mexican Revolution” (as opposed to the Guthrie-Bothamley book, the full title of which reads Coins of the Mexican Revolution, 1913-1917), there should definitely be an entry for the numismatic items of the Cristero Rebellion of the late 1920s, namely, the “Muera Calles” peso and the various 20 centavos medalets dated 1926. Now (that is, in the next edition of the Compendio) would be the time to elevate these historically significant items to the rank and place in Mexican numismatic history which is rightfully theirs! The second edition is available from the author (write to numisamaya@hotmail.com). The price is 1,200 Mexican pesos (approx. USD 95), plus postage. However, I have been informed by Carlos Amaya that he is currently working on an English edition of the Compendio for which there will also be a distributor in the United States. At this time the Amaya book should become the standard reference for Mexican Revolutionary coinage at the very latest, being used by all serious collectors, museums and auction houses in the description of their coins!

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THE FIRST ISSUE OF THE SUPREME JUNTA OF ZITÁCUARO AND THEORIES ON EARLY MEXICAN SYMBOLISM by Max A. Keech In August of 1811 the most important coinage of the War for Independence, and arguably the most historic of Mexico, was created by the Supreme Junta at Zitácuaro. For the first time the Mexican national emblem of an eagle, perched on a cactus, appears. It is an odd looking eagle and the cactus rises from a three-arch bridge. On the reverse the weapons of the largely Indian and Mestizo army are shown, a bow and arrow, quiver, spear and sling. Little more is known about this “infant” Mexican national issue and much of what we think we know may not be correct! For instance, did you know that the eagle is not an eagle at all? Or that this issue was not struck at Zitácuaro? In June of this past year, a struck Supreme Junta 8 reales of 1811 was discovered in a junk box in Mexico. I was asked to authenticate it and decided that this would make a great “short” article for the journal. It was the 200th anniversary of this historic issue and August 2011 would be a perfect publication date! Initially, I set out to catalog the known issues, determine which coin this clearly legitimate piece represented and present some background on the coinage. I intended to complete this article in a few weeks, or perhaps a month, but with each coin reviewed, a new question arose. The journey soon resulted in a need better to understand the history surrounding the issue, to try to fit the coinage to the history and a fruitless search for numismatic references. As all numismatists have experienced at one time or another, I got “sucked in”. My next six or seven months would be enjoyable, spent at the intersection of history and the Junta’s coinage. Historical Context On 16 September 1810, Father Miguel Hidalgo tolled the bells of Dolores Chapel, setting the War for Independence in motion. His army was more of a mob in many ways, swelling with angry, undisciplined and largely illiterate peasants looking for revenge against Spanish oppression. Within two weeks they overwhelmed Guanajuato and a month later, on 30 October, defeated a disciplined 7,000 man army led by Trujillo (with Colonel Agustín Iturbide in attendance) in the bloody battle of Los Cruces. On 17 January 1811, four months after the uprising began, the Royalist Calleja defeated Hidalgo’s mob of 100,000 with 6,000 well trained men at the battle of Calderón. Pursuit followed and on 21 March Hidalgo was betrayed by Elizondo. Hidalgo together with Allende, Aldama and Jiménez were captured at Bajan. Hidalgo’s Secretary-General, Ignacio López Rayón, and Lieutenant-Colonel José María Liceaga had stayed behind at Saltillo and avoided capture. On 15 Hidalgo’s banner April Rayón assumed leadership of the insurgency and would remain its leader for most of the next four years until the movement was largely extinguished by the Spanish in 1815. Following Hidalgo’s capture, Rayón spent April in Zacatecas. In the face of Calleja’s advance he dispersed his troops and demoralized officers and retired to the rugged hills near Valladolid, Michoacán. During the late spring and summer of 1811, no major cities were under insurgent control but the rebellion was growing and numerous bands operated openly in the countryside. From Valladolid to Toluca, the zealous Spanish military commander, Captain Juan Bautista de la Torre, tried to suppress the “bandits” and open the highway. To do so, he needed to pacify the remote town of Zitácuaro which still remained in insurgent control under the farmer and landowner, Benedicto López. Zitácuaro was inherently defensible, surrounded by tall mountains and approachable only through three narrow canyons. On 22 April de la Torre made the mistake of attacking and paid for it with his life. The defeat was complete with the rebels capturing all the enemy’s arms and 300 prisoners. 14


Recognizing the significance of this event and Zitácuaro’s potential as the insurgent capital, Rayón rushed to join López who willingly ceded control. Rayón immediately began erecting fortifications in anticipation of the Spanish response. A moat was dug, ramparts were built and a foundry established to cast cannon. On 22 June the Spanish Commander Empáran attacked Zitácuaro and was defeated by Rayón’s forces. The fortifications continued until an impenetrable fortress was established which could serve as the insurgent’s first capital. Rayón was a lawyer and organizer who envisioned uniting the various insurgent groups under one command with a clear message which would attract intellectual as well as mass support. The loss at Calderón demonstrated that unorganized numbers were not enough to defeat the Spanish. An organized and structured way forward was needed to achieve independence. Rayón’s plan included a government seated in Zitácuaro with a trained army under a central command. In correspondence with Morelos, he shared this vision and received Morelos’ support to convene a National Assembly, establish a charter and elect a Supreme Junta. On 18 August 1811 the Assembly was convened and Rayón elected president of the three-member Junta. Also elected were José María Liceaga and the priest, José Sixto Verduzco, a representative of Morelos. An act was passed pledging respect for the rights of Church, the imprisoned Ferdinand VII and Liberty. Circulars were sent to all areas under insurgent control requiring an oath of allegiance from all chiefs, troops and inhabitants. Conscious of the power of the press, a weekly circular Ilustrado Americano was published to spread the insurgent message. First coinage of the Supreme Junta While the historic political and military events of this period are well documented, there is very little written about this important coinage. The rarity of the struck coinage and lack of concurrent documentation has perhaps frustrated a closer look in the past. As a point in fact, the struck issue was unknown to Pradeau when he published his ground breaking Numismatic History of Mexico in 1938. Because of the lack of concurrent documentation, a certain amount of reasoned interpretation (and sometimes speculation) is necessary to create this narrative and for this I ask your indulgence. I would also welcome and encourage other thoughts, research and opinions. This issue is too important to have been left nearly untouched for 200 years. In August of 1811 Rayón had dies prepared for an independent coinage. For the first time, an eagle atop a cactus, sitting on a bridge, is presented as the national symbol. The legend contains the familiar “FERDIN VII DEI GRATIA” and the date 1811. The use of the imprisoned Ferdinand’s name was a convenience to help pacify wavering Spanish Americans. The reverse features a hand holding a bow and arrow with native weapons below – a spear, arrow, quiver and sling. The legend reads “PROVICIONAL POR LA SUPREMA JUNTA DE AMERICA”. From these hand cut dies madres or mother models were struck to create sand molds for the casting of silver 8 reales.

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This first issue of the Supreme Junta has long been known by the somewhat available cast issues of 1811 and 1812. The crude nature and rampant counterfeiting of these cast pieces keeps many collectors away and leaves the impression of a primitive issue. Extremely rare and far less known are the superb struck madres of 1811 and 1812 of which no more than ten in total are known. This coinage was carefully made and was clearly intended by Rayón to be a declaration of sovereignty and a statement of independence. Coinage could spread the message and legitimacy of the insurgent movement and hence was a natural function of Rayón and the Junta’s efforts. Even the cast pieces were well executed, at least initially. This is in stark contrast to the Morelos copper issues of the same period. The crudely produced Morelos issue was necessity or fiat money rather than a political statement (Morelos did produce a small amount of crude silver 8 reales late in 1811). Theories on early Mexican symbolism Given Rayón’s passion for creating a functioning government and the care taken in creating its coinage, doesn’t the eagle seem a little odd? Even cartoonish? This has often been attributed to the crude nature of the cast coinage but this explanation doesn’t hold up when the struck coinage is evaluated. To solve this and other riddles involving this coinage we must look beyond numismatic sources and consult other forms of symbolism, history and even ornithology. It turns out that the eagle is not an eagle at all. The symbolism comes from the often-told and almost universally accepted story of the ancient Mexica “vision”. In this legend, the Mexica would migrate south until they encountered an eagle clutching a snake while perched on a nopal cactus. Here they would establish their home. In this way they came to Tenochtitlan (now Mexico City) and the Aztec empire begins. This legend stems from Aztec codices (pictorial books). Oddly enough, the original codices were later destroyed by Aztec priests to promote the sun god Huitzilopochtl (god of war). One of the oldest copies is the Codex Mendoza created circa 1541 and presented here. This bird looks very similar to Rayón’s and any explanation of a crude eagle is too much of a coincidence to accept. Codex Mendoza depicting the The Mexican ornithologist Rafael founding of Tenochtitlan Martín del Campo has proposed that the “sacred eagle” in the codices is probably the Crested Caracara. The Caracara is a member of the falcon family native throughout Mexico. Unlike many members of the falcon family they are not fast flying or aerial hunters and frequently run along the ground (think falcon meets roadrunner). Also known as the Cara-cara or Cara Cara, its name is derived from its distinctive cackle. Exposed crest

Significant differences between the Caracara and the eagle include the crest on the Caracara (importantly, no eagles native to Central Mexico have a crest), a beak that is hooked but more parrot-like, long legs and a square tail. Comparing photos of the crested Caracara with the Codex Mendoza and the first Supreme Junta issue seems to confirm this as the original bird atop the cactus! On the Codex, the crest is partially raised. On the Junta issue, I believe plumage of the crest, rather than a crown, extends from the Caracara’s head. Also notice 16

Crest plumage


the way the checkered breast is rendered into the die. Rayón’s knowledge that this bird was not an eagle appears to be common in early colonial days. This is evidenced by Mexico City’s coat of arms which show, in my opinion, a Caracara on a cactus (Grove PV1-2, and LL1-4). You will not find a snake anywhere in the images shown or referenced here. This latter addition could only occur when the 2-3 pound Caracara was replaced with a larger bird! And the bridge? And what about the bridge? It is hard to imagine Crest plumage that Rayón selected this prominent symbol without intending an important message. All numismatic references available to me simply describe an eagle on a cactus “on a bridge” - but what bridge? I have discovered two possibilities. The first and perhaps least likely is a reconfiguration of the coat of arms of Mexico City. The image of a bird/cactus sitting on a castle Supreme Junta bridge rising from a similar bridge is presented on a few of the 1760 proclamations of Charles III (Grove K1-3). The possibility exists that Rayón adopted these arms after removing the castle, perhaps the bridge being a reference to taking Mexico City from the Spanish. The rendering of these arms changes substantially in 1789 and 1808 (Grove C1-4 and F1-5) so this interpretation is not very satisfying. Nor is the possibility that the bridge symbolizes Mexico City on the Supreme Junta issue. I believe a more likely and relevant explanation is Calderón Bridge, the location of the epic battle that led to Hidalgo’s capture; Rayón, Liceaga and Morelos’ elevation to leadership, and the lessons of the need for organization and discipline. Significant to this thesis, Hildalgo was executed on 31 July 1811, a few weeks before the Supreme Junta dies were prepared! A comparison of Calderón Calderón Bridge today Bridge 200 years following the original striking of this coinage strongly supports this view. If correct, this first coinage offers a fitting and timely memorial to Father Hidalgo! The priest Morelos adopted this imagery in his battle standard rather than Hidalgo’s beloved Virgin of Guadalupe. Clearly, the bridge was of special significance to Morelos as well. Striking the Madres As previously mentioned, the struck coins were used as madres for the casting process. This had previously been suggested to me by both Don Canaparo and Mike Dunigan, each preeminent numismatists in this field. I can confirm this with certainty, as a careful examination of all the known struck 1811s Morelos battle flag and a large group of cast pieces show that they come from a single set of dies. This requires that one or more struck coins were used to transfer the images in the casting process. In addition, most if not all of the struck coins were double struck. The coiner clearly sacrificed efficiency for a bold image which would result in a quality cast. Of the three coins I’ve physically examined there appears to be little concern about weight (varying between 22 and 40 grams) or edge (unfinished or filed). None of the examples known to me through photos show wear, nor have any been counter-stamped. In total, these facts point to an issue that wasn’t intended for, nor ever circulated. 17


Die damage, first striking

But if the Supreme Junta in Zitácuaro had equipment to strike these marvelous coins, why are they so rare and why did the Junta switch to the inefficiencies of casting? In this case, the coins themselves tell the story. They were not struck in Zitácuaro but were coined elsewhere and then transported with the dies back to Zitácuaro. An incredible claim? Each of the known 1811s shows substantial damage to the reverse die at 9 o’clock caused by the serrated border from the edge of the obverse die. The contact resulted in incused “tracks” in the reverse die which is expressed as raised tracks on the coins. This type of damage is most easily explained by transportation of the dies over rough roads, such as the steep route leading up San Mateo Canyon to Zitácuaro. The known 1811 coins fall into three classes – a first strike and a second striking with additional die damage near 3 o’clock. This indicates the dies were transported out of Zitácuaro a second time before the end of 1811 (The known struck coinage of 1812 also shows transportation damage but in this case to the obverse die).

During the period in question (Aug-Dec 1811), no major city was under insurgent control, so where could they have been struck? Without Die damage, second striking contemporary evidence, I can only offer speculation. Previously mentioned was the Supreme Junta’s publication of the weekly Ilustrador Americano in Zitácuaro. The editor was the well-known José María Cos, chief propagandist for the Junta. Much less is known about the printer, José Rebelo. What we do know is that Rebelo smuggled both printing type and publications between Mexico City and Zitácuaro during this period, hidden in gourds packed with fruit. Considering this and Rayón’s extensive contacts with Mexico City’s elite, it seems plausible that the dies could have found their way to Mexico City and back in Rebelo’s gourds. Sadly, the energetic José Rebelo was captured smuggling revolutionary literature from Zacatlan to Apazingan a few years later and shot! The Junta was forced out of Zitácuaro on 2 January 1812 so all issues of this first insurgent capital suggest an 1811 date. In all probability, no equipment existed in Zitácuaro to strike coins and the only dies prepared in 1811 were for 8 reales madres which were struck elsewhere and then cast locally. I am not aware of any struck copper dated 1811 in spite of Krause and other guidebooks listings to the contrary. This opinion is supported by both the physical evidence and the celebratory purpose of this initial Junta issue. Evolution and Conclusion The coinage and very symbolism of Mexico was introduced by Ignacio López Rayón and the Supreme Junta in Zitácuaro in August 1811. This long misunderstood symbolism features a Crested Caracara perched on a cactus, likely seated on Calderón Bridge as a memorial to Father Hidalgo. In addition to the Supreme Junta coinage of 1811-1814, portions of this symbolism can be seen on related counter-stamps of the Junta, Ensaie, Norte, Chilpancingo and the Militar del Sur issues. This symbolism might appear on the Mexican flag today had the forces of Rayón and Morelos prevailed. Instead, the war for independence was stolen by Agustín Iturbide and the conservative forces in Mexico. Under Iturbide the symbolism rapidly evolves in 1822 as shown on Iturbide’s coinage. Initially, the Caracara is depicted with wings extended and given a crown. This issue has historically been labeled the small, or chicken eagle reverse but should be properly classified as the “Caracara reverse”. In late 1822, the Caracara is replaced forever by an Imperial, European style eagle and the native weaponry is eliminated. Of course, a memorial to the liberal Hidalgo was unacceptable so Calderón Bridge was never 18


1822 Iturbide 8E, Caracara reverse (courtesy of Ira and Larry Goldberg)

1822 Pattern 8R, Eagle reverse (courtesy of Ira and Larry Goldberg)

1823 Pattern 8R (courtesy of Ira and Larry Goldberg)

considered in Iturbide’s coinage. The snake which appears in Iturbide’s coat of arms was, for unknown reasons, not depicted on his coinage. The following year, a Republican Mexico adopts the snake in the eagle’s grasp and the evolution is complete. With the passage of time both the true Mexica legend and the original symbolism of Mexican Independence has nearly been lost forever. Isn’t it great that we have coins to keep that from happening! References: Bancroft, Hubert H., History of Mexico, Vol. IV, 1804-1824, A. L. Bancroft & Co., San Francisco, 1885 Pradeau, A.F., Numismatic History of Mexico, Los Angeles, 1938 Krauze, Enrique, Mexico, Biography of Power: a History of Modern Mexico, 1810-1996, HarperCollins, New York, 1997 Hamnett, Brian R., Roots of insurgency: Mexican regions, 1750-1824, Cambridge University Press, Cambridge, 1986 Ira and Larry Goldberg, 2008 Millennia Sale, photos of lots 1113, 1114 and 1120

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HISTORICAL DISCUSSION AND DOCUMENTATION OF THE VARIETIES OF THE 1915 ZAPATISTA ONE CENTAVO OF THE MEXICO CITY MINT by Alan Luedeking This story begins in 2009 when I was doing research in Mexico on the Republic One Centavo. I actually got to spend a good amount of time with quite a few of the annual Mexico City mint reports from the 1880s with coverage up to the 1940s. Typically, up until 1910, the mint reports were issued the year after the mintage last being described but, given the conditions of the revolution, the mintage report covering 1915 (Memoria de la Dirección de la Casa de Moneda, y Oficinas Federales de Ensaye, correspondiente al año fiscal de 1915-1916) was not put out until 1919. I was looking for references to any revolutionary mintages and found none other than a mention of the reduced size one centavo series from 1915 that was produced at the Mexico City mint. The reduced size series is referred to as the ‘Zapata’ centavo because during the Mexican revolution, Emiliano Zapata’s forces, aligned with the Constitucionalistas, controlled Mexico City from 4 December 1914 to 28 January 1915 and then again from 11 March 1915 to the end of July 1915. The Constitutionalist Convention President, Francisco Lagos Chazaro, ordered the reduced size centavo minted on 29 June 1915. The coins saw little circulation with the immediate change of control of Mexico City to Carranza’s forces near the end of July and were formally demonetized on 19 October 1916 (La Moneda Mexicana: Su Historia, pp.188-190). There is no discernible difference between the regular one centavo and the reduced size except for their diameter. An enlarged mint example of the ‘Zapata’ issued reduced diameter centavo is shown below:

Even in mint state these coins are typically found with a weak eagle strike at the breast and the snake is illdefined at that high point of the obverse. The data I want to focus upon is included in this quote: “numero de piezas emisión bronce $0.01 igual 1,169,048 (julio-diciembre 1915) El total de las piezas de bronce de dos centavos y las ultimas 179,048 piezas de un centavo, fueron emitidas por la Convención, habiéndose reducido el diámetro de las de dos centavos a veinte milímetros y las de un centavo a dieciséis milímetros, únicas acuñaciones hechas con esos diámetros (1,169,048 bronze 1c issued in July-December 1915. All the bronze 2c and the last 179.048 1c were issued by the Convention, having reduced the diameter of the 2c to 20mm and the 1c to 16mm, the only mintage with such diameters)” and the following table from the Memoria: 20


Piezas

Bronce Bronce 16mm

Anversos

Reversos

Acuñados

Troqueles por par de cuños

5 2

5 2

990,000 179,048

198,000 89,254

The troqueles or dies are given for both the obverse and reverse of the large and reduced size one centavo series of 1915. So, for the ‘normal’ size 1915 cent there were five of each, giving a minimum of five and a maximum of 25 die pairs to track. What is more interesting is that there were only two dies for each side of the reduced size 1915 one centavo. If one assumes a minimum of two die pairs, then, there are two reverse (dated side) die varieties to analyze. Carlos Amaya, in his Illustrated Price Guide, appears to have been the first to report varieties in the Zapata one centavo and he does capture these two varieties but he also identifies two additional subtypes of Type I below. I put forth the idea that there are no additional subtypes of Type I. As the mintage report for 1915 states, only two dies were made for the reverse of the reduced size one centavo. The variation in these dies is subtle. Great care must be taken when comparing these varieties in Type II Reverse Die Type I Reverse Die magnified photos Tall thin 1 canted left, wide and flat date Thick 1, narrow date and 5 canted right or scans to ensure that comparable areas are consistently included. In these photos I used the base of the one serif and the edge of the centavo hash to define my bottom and right side crops. The top crop is defined by including just enough of the crenellations to allow counting and then choosing the same crenellation count to define the left edge. In this instance it is the eighth crenellation that defines where the left side crop occurs. My observations of over 25 of these coins indicate that the Type II variety is found only 20% as often as the Type I and is scarcer. In taking note of the average die strikes in the same year of 1915 at the Mexico City mint, I think it is likely that the first die marriage did not fail at the average indicated in the Memoria for the small diameter centavo, but failed much later. If the first die marriage lasted almost as long as the large 1915 centavo average die strike count (198,000 strikes per die) then the Zapata second die set struck an order of magnitude less planchets (likely less than 30,000) which would support the scarcity of the Type II small diameter variety. References: Carlos Abel Amaya Guerra, Illustrated Price Guide of the Modern Mexican Coins 1905 to Date, CCEVNM San Pedro Garza García, N.L., Mexico, 2008. José Manuel Sobrino, La Moneda Mexicana: Su Historia, Banco de México, 1972. Memoria de la Dirección de la Casa de Moneda, y Oficinas Federales de Ensaye, correspondiente al año fiscal de 1915-1916. México, Poder Ejecutivo Federal, Departamento de Aprovisionamientos Generales Dirección de Talleres Gráficos, 1919.

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SONORA PROVISIONAL CURRENCY: A FORENSIC APPROACH (Part III) by Robert Perigoe In this article I shall deal with the ten peso value of the Estado de Sonora typeset provisional issue and, in addition, provide a checklist for those who wish to collect this issue by type. TEN PESOS Once again, the easiest way to identify the three printing positions is to examine the back of the note. The backs of Series 1 notes are consistent throughout the series, while a change occurs in Series 2 that continues through Series 3 and 4. Ten Pesos, Series 1 This series differs from all the others in that it deviated from the standard practice of using runs of 100 in each setting. Although the first setting used runs of 100 with three positions, the second setting used runs of 500 with three positions, and the third setting used runs of 150 with only two positions. The first setting comprised 13 runs of 100 sheets with three positions each for a total of 3,900 notes.

Position 1 (top row): The face displays mountain seal type 3, large eagle seal (normal ‘C’), thick fancy ‘No.’, and serial numbering pattern 1-100, 301-400 … 3601-3700. On its back, the dot in ‘SONORA’ is a thick vertical rectangle, and in the top right corner the vine is broken on the left side.

Position 2 (middle row): mountain seal type 4, large eagle seal (broken ‘C’), thin block ‘No.’, and serial numbering pattern 101200, 401-500 … 3701-3800. On its back, the dot in ‘SONORA’ is a thick horizontal rectangle, and there are no breaks in the corner floral designs.

Position 3 (bottom row): mountain seal type 5, small eagle seal (with spot), thick block ‘No.’, and serial numbering pattern 201-300, 501-600 … 3801-3900. On its back, the dot in ‘SONORA’ is a small irregular shape, and in the lower left corner the flower is broken at the left and the stem is truncated.

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The above characteristics of the printing positions did not change in the next two settings. Only the numbering pattern was altered. In the second setting there were two runs of 500 sheets having three positions each for a total of 3,000 notes. The numbering patterns are as follows:

Position 1 (top row): 3901-4400, 5401-5900. Position 2 (middle row): 4401-4900, 5901-6400. Position 3 (bottom row): 4901-5400, 6401-6900.

In the third setting there were two runs of 150 sheets using only the top two positions for a total of 600 notes. The numbering patterns are as follows:

Position 1 (top row): 6901-7050, 7201-7350. Position 2 (middle row): 7051-7200, 7351-7500. Position 3 (bottom row): not used.

At least one replacement note was produced in this series, as a replacement note was printed for note 7455 which presumably was defective. The original note would have been included in the third setting, in position 2 (middle row). The replacement note was printed afterwards, in position 1 (top row). Ten Pesos, Series 2 This series is distinguished by errors in the green printing which affected the first setting. On the left of each note, reading upward, the word ‘PROVISIONAL’ is supposed to be printed. This was done successfully in position 1 (top row), but somehow one of the ‘I’s was omitted in the second position (middle row) producing ‘PROVSIONAL’. However, the missing ‘I’ was added into the third position (bottom row) producing ‘PROVISIIONAL’.

The first setting comprised two runs of 100 sheets with three positions each for a total of 600 notes.

23


Position 1 (top row): ‘PROVISIONAL’ correctly spelled. The face displays mountain seal type 4, large eagle seal (broken ‘C’), thick block ‘No.’, and serial numbering pattern 1-100, 301-400. On the back, the dot in ‘SONORA’ is a vertical rectangle, and in the lower left corner, both edges of the vine at right are broken.

Position 2 (middle row): ‘PROVSIONAL’ error. The face displays mountain seal type 3, large eagle seal (normal ‘C’), thick fancy ‘No.’, and serial numbering pattern 101-200, 401-500. On the back, the dot in ‘SONORA’ is round and lower than the adjacent letters, and in the lower left corner, only the outer edge of the vine at right is broken.

Position 3 (bottom row): ‘PROVISIIONAL’ error. The face displays mountain seal type 5, small eagle seal (with spot), thin block‘No.’, and serial numbering pattern 201-300, 501-600. On the back, the dot in‘SONORA’ is rectangular, and in the lower left corner the flower is broken at the left and the stem is truncated.

The above characteristics of the backs of the notes remained consistent for the settings which followed in this series. 24


The errors were corrected in the second setting, retaining the same numbering devices as the first setting. This setting comprised one run of 100 sheets having three positions for 300 notes.

Position 1 (top row): mountain seal type 4, large eagle seal (broken ‘C’), thick block ‘No.’, and serial numbering pattern 601-700. Position 2 (middle row): mountain seal type 3, large eagle seal (normal ‘C’), thick fancy ‘No.’, and serial numbering pattern 701-800. Position 3 (bottom row): mountain seal type 5, small eagle seal (with spot), thin block ‘No.’, and serial numbering pattern 801-900.

Things finally got squared away with the third and final setting. For some reason, this setting moved the numbering device that had been utilized in position 1 to position 2, and substituted a totally different numbering device in position 1. This setting comprised 22 runs of 100 sheets having three positions for 6,600 notes.

Position 1 (top row): mountain seal type 4, large eagle seal (broken ‘C’), thick fancy ‘No.’, and serial numbering pattern 901-1000, 1201-1300 … 7201-7300. Position 2 (middle row): mountain seal type 3, large eagle seal (normal ‘C’), thick block ‘No.’, and serial numbering pattern 1001-1100, 1301-1400 … 7301-7400. Position 3 (bottom row): mountain seal type 5, small eagle seal (with spot), thin block ‘No.’, and serial numbering pattern 1101-1200, 1401-1500 … 7401-7500.

Ten Pesos, Series 3 This series was printed in a relatively straightforward manner, but still had its problems. A considerable number of replacement notes were produced individually and even in groups. The single regular setting comprised 25 sheets of 100 sheets having three positions for a total of 7,500 notes. The backs of the notes remained the same as in Series 2.

Position 1 (top row): mountain seal type 4, large eagle seal (broken ‘C’), thick fancy ‘No.’, and serial numbering pattern 1-100, 301-400 … 7201-7300. Position 2 (middle row): mountain seal type 3, large eagle seal (normal ‘C’), thick block ‘No.’, and serial numbering pattern 101-200, 401-500 … 7301-7400. The initial ‘P’ in the right ‘PROVISIONAL’ is lower than the other letters.

This minor error is found throughout the regular issues of Series 3 and 4.

Position 3 (bottom row): mountain seal type 5, small eagle seal (with spot), thin block ‘No.’, and serial numbering pattern 201-300, 501-600 … 7401-7500.

Replacement notes were printed for notes 1254 and 1271 which presumably were defective. The original notes would have been included in the single setting, in position 1 (top row). The replacement notes were printed afterwards, in position 2 (middle row). Considerably later, probably in a separate setting after the completion of Series 4, replacement sheets were printed for a group of notes that were presumably defective. The numbering devices are different and the ‘P’ in ‘PROVISIONAL’ is no longer lower than the other letters. 25


The size of the group and the numbers included are estimates that could be refined as additional information becomes available. Known replacement notes of this type are numbered 988, 1043, 1048, 1146, 1152, 1153, 1182, 1215, and 1415.

Position 1 (top row): mountain seal type 3, large eagle seal (broken ‘C’), thick block ‘No.’, and serial numbering pattern 941-1000, 1201-1220. Position 2 (middle row): mountain seal type 5, large eagle seal (normal ‘C’), thin block ‘No.’, and serial numbering pattern 1041-1100, 1301-1320. The initial ‘P’ in the right ‘PROVISIONAL’ is even with the other letters. Position 3 (bottom row): mountain seal type 4, small eagle seal (with spot), thick fancy ‘No.’, and serial numbering pattern 1141-1200, 1401-1420.

Ten Pesos, Series 4 The single setting for this series is fairly straightforward, its highlight being the minor error, the low ‘P’ in ‘PROVISIONAL’ in position 2. Fronts and backs mirror the regular single setting for Series 3, thus:

Position 1 (top row): mountain seal type 4, large eagle seal (broken ‘C’), thick fancy ‘No.’, and serial numbering pattern 1-100, 301-400 … 7201-7300. Position 2 (middle row): mountain seal type 3, large eagle seal (normal ‘C’), thick block ‘No.’, and serial numbering pattern 101-200, 401-500 … 7301-7400. The initial ‘P’ in the right ‘PROVISIONAL’ is lower than the other letters. Position 3 (bottom row): mountain seal type 5, small eagle seal (with spot), thin block ‘No.’, and serial numbering pattern 201-300, 501-600 … 7401-7500.

CHECKLISTS The following checklists summarize the regularly issued genuine notes that would be of interest to the serious collector. One peso Series

Position

1

1 2 3 1 2 3 1 2 3 1 2 3

2

3

4

Mountain seal Type 3 4 5 5 3 4 2 4 1 2 4 1

Eagle seal Large-normal ‘C’ Large-broken ‘C’ Small with spot Large-normal ‘C’ Large-broken ‘C’ Small with spot Large-broken ‘C’ Large-normal ‘C’ Small with spot Large-broken ‘C’ Large-normal ‘C’ Small with spot

No. Thin block Thick block Thin fancy Thick block Thin fancy Thin block Thin fancy Thin block Thick block Thin fancy Thin block Thick block

Five pesos Series

Position

1

1 2 3

Mountain seal Type 3 26 5 4

Eagle seal Large-normal ‘C’ Large-broken ‘C’ Small with spot

No. Thick block Thin block Thick fancy


2 2 3 3

4 4 1 1

Large-normal ‘C’ Large-normal ‘C’ Small with spot Small with spot

Mountain seal Mountain Type seal Type 3 3 5 5 4 4 3 33 3 2 2 5 5 5 5 4 44 4 4 4 1 1 2 2 4 41 1 2 2

Eagle seal Eagle seal

Thin block Thin block Thick block Thick block

Five pesos Five pesos Five pesos Series Series

Position Position

1 1

1 1 2 2 3 3 1 1

2 2

2 2 3 3 3 3 4 4

1 1 2 2 3 3 1 12 2 3 3

Broken ‘J’ Broken ‘J’ Numbering adjustment Numbering adjustment Broken ‘J’ Broken ‘J’ Broken ‘J’ Broken ‘J’

Large-normal ‘C’ Large-normal ‘C’ Large-broken ‘C’ Large-broken ‘C’ Small with spot Small with spot Large-broken ‘C’ Large-broken Large-broken ‘C’ ‘C’ Large-broken ‘C’ Large-broken ‘C’ Large-broken ‘C’ Large-normal ‘C’ Large-normal ‘C’ Large-normal ‘C’ Large-normal ‘C’ Small with spot Small Small with with spot spot Small with spot Large-broken ‘C’ Large-broken ‘C’ Large-normal ‘C’ Large-normal ‘C’ Small with spot Small with spot Large-broken ‘C’ Large-broken Large-normal ‘C’ ‘C’ Large-normal ‘C’ Small with spot Small with spot

No. No. Thick block Thick block Thin block Thin block Thick fancy Thick fancy Thick block Thick Thick block block Thick block Thick block Thick block Thin block Thin block Thin block Thin block Thick fancy Thick Thick fancy fancy Thick fancy Thick block Thick block Thin fancy Thin fancy Thin block Thin block Thick block Thick block Thin fancy Thin fancy Thin block Thin block

Ten pesos Ten pesosTen pesos Series Series

Position Position

1 1

1 12 2 3 3 1 1

2 2

2 2 3 3 3 3

4

1 1 2 2 3 1 2 3

Changed ‘No.’ Type Changed ‘No.’ Type ‘PROVSIONAL’ ‘PROVSIONAL’ Changed ‘No.’ Type Changed ‘No.’ Type ‘PROVISIIONAL’ ‘PROVISIIONAL’

Mountain seal Mountain Type seal Type 3 34 4 5 5 4 4 4 4 3 33 3 3 3 5 5 5 54 4 3 3 5 4 3 5

Eagle seal Eagle seal Large-normal ‘C’ Large-normal Large-broken ‘C’ ‘C’ Large-broken ‘C’ Small with spot Small with spot Large-broken ‘C’ Large-broken ‘C’ Large-broken ‘C’ Large-broken ‘C’ Large-normal ‘C’ Large-normal Large-normal ‘C’ ‘C’ Large-normal ‘C’ Large-normal ‘C’ Large-normal ‘C’ Small with spot Small with spot Small with spot Small with spot‘C’ Large-broken Large-broken ‘C’ Large-normal ‘C’ Large-normal ‘C’ Small with spot Large-broken ‘C’ Large-normal ‘C’ Small with spot

No. No. Thick fancy Thick fancy Thin block Thin block Thick block Thick block Thick block Thick block Thick fancy Thick fancy Thick fancy Thick Thick fancy fancy Thick fancy Thick block Thick block Thin block Thin block Thin block Thin Thickblock fancy Thick fancy Thick block Thick block Thin block Thick fancy Thick block Thin block

One subject that has not been addressed is the known counterfeits for these issues. These items could be One subject that has not been addressed is the known counterfeits for these issues. considered eitheritems as collectibles in their owneither right or dangerousintraps be right avoided. These could be considered as as collectibles their to own or asIn no event should they be interspersed throughout a collection of purportedly as they throughout were in the ahoard that dangerous traps to be avoided. In no event shouldgenuine they benotes, interspersed formed the foundation for this study. They truly were exceptions that proved the rule, collection of purportedly genuine notes, as they were in the hoard that formedand the very passable exceptions, often withfor resellos. Now that they have been weeded out, can be as avery totally separate foundation this study. They truly were exceptions thatthey proved thestudied rule, and exceptions, often with Now that they have been weeded out, they category. passable This area will be the subject of anresellos. upcoming article. can be studied as a totally separate category. This area will be the subject of an upcoming article.

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28


FOR SALE - MEXICO COLONIAL ND (1542-55) M A 4R NGC MS62 LATE SER. C&J, REVERSED M/A 2,900. 1810 Mo TH ½R NGC MS61 SLIGHTLY OFFCENTER 175. 1741 Mo MF 8R XF NICE FOR GRADE 550. (17)14 Mo J GOLD 4E COB NGC MS61 LAST 2 DIGITS VISIBLE 5,500. 1713 MXo J GOLD 8E COB NGC MS62 FULL 4 DIGIT DATE 11,500. 1800 Mo FM GOLD 4E AU RARE IN GRADE 2,500. WAR FOR INDEPENDENCE 1813 Ga MR 8R NGC AU53 LUSTROUS & BOLD STRIKE 975. 1813 OAX 1R XF SILVER VAR., WELL STRUCK 550. EMPIRES – Iturbide & Maximilian 1822 Mo JM 8R AU RARE BH 2C VARIETY 1,900. 1823 Mo JM GOLD 4E VF/XF REV. ADJUSTMENT MARKS 5,800. 1866 Mo 50C NGC MS62 MEDIUM TO DARK TONING 1,500. 1866 Mo GOLD 20P NGC AU58 PROOFLIKE SURFACES 3,800. REPUBLIC – Reales & Escudos 1824 Do LR 2R NGC VF25 HOOKNECK 850. 1846 GC MP 8R AU ROUND TAIL 950. 1842 Mo MM 8R XF+ REPUNCHED DATE, RARE 385. 1860 Zs VL GOLD 1E UNC TWO YEAR TYPE 425. 1853/1 C CE GOLD 8E XF+ BOLD OVERDATE 1,750. 1854 Go PF GOLD 8E NGC AU55 EAGLE OF 1855 2,100. REPUBLIC - Decimal 1889 Mo 1C NGC MS64RB NICE COLOR 300. 1901 Mo M 20C NGC MS65 ATTRACTIVE TONING 325. 1902 Mo M GOLD 1P NGC MS66 SATIN SURFACES- GEM 625. 1883/2 Go B GOLD 20P NGC MS61 SCARCE DATE 2,800. REVOLUTION 1915 CHI 1P NGC MS62 GB72- ORIG. DEEP TONING 800. 1914 DUR 1P XF GB87- MUERA HUERTA 750. 1915 GRO-CM 2P AU RARE, LISTED AS PATTERN 325. 1915 OAX 2P NGC MS62 GB365- LT. TONING 250. MODERN 1914 1P AU+ CHOICE FOR GRADE 1,500. 1919 M 1P NGC MS62 WELL STRUCK FOR DATE 325. 1921 Mo 2P PCGS MS64 BRILLIANT, LUSTROUS 775. CURRENCY- MEXICO BCO AGUAS 10P M52c XF SMALL HOLE 250. BCO MINERO 5P M132a VG COMMEM ISSUE 375. BCO COAHUILA 10P M168c AU+ NICE FOR GRADE 170. BCO NACIONAL MEX 5P M309p PR FACE AND BACK PROOF 700. BCO DURANGO 50P M336a XF ISSUED, SCARCE 300. BCO DURANGO 100P M338a XF+ SMALL SIZE VERY SCARCE 600. BANCO GUERRERO 50P M364b VF ISSUED SERIES A 575. BCO JALISCO 10P M379s UNC PMG 64 CERTIFIED 2,500. BCO YUCATECO 1P M563a VG ISSUED, SCARCE 350.

FOR SALE ARGENTINA 1851 4R ARGENTINA 1843 RB GOLD 2E ARGENTINA 1878 2C BOLIVIA 1808 PTS PJ 8R BOLIVIA 1854 PTS GOLD 1E BOLIVIA 1872 PTS 1B BOLIVIA 1899 PTS MM 50C BRAZIL 1813 R 960R BRAZIL 1725 M GOLD 10,000R BRAZIL 1745 R GOLD 6,400R BRAZIL 1806 R GOLD 6,400R C.A.R. 1840/30 G 1/4R C.A.R. 1826 NG M 8R C.A.R. 1889 2C CHILE 1834 So IJ 2R CHILE 1751 So J GOLD 8E CHILE 1789 So DA GOLD 8E COL. 1848 BOG. 2R COL. 1810 P JF GOLD 1E COL. 1857 POP. GOLD 10P COL. 1884 BOG. 50C COL. 1872 MED. GOLD 1P CUBA 1934 1P CUBA 1936 1P DOM. REP. 1878 E 2C DOM. REP. 1897 A 1P DOM. REP. 1955 GOLD 30P EL SALVADOR 1892 1P GUATEMALA 1821 G 1/4R GUATEMALA 1821 NG M 1/2R GUATEMALA 1873 P 1P HAITI AN 12 (1815) 25C HAITI 1907 50C HONDURAS 1870 A 1R NICARAGUA 1912 H 1C PORT. 1879 GOLD 10,000R PARAGUAY 1870 SHAW 2C PERU 1712 L M GOLD 8E COB PERU 1789 LIMAE IJ GOLD 8E PERU 1820 LIMAE JP 8R PERU 1826 LIMA JM 8R PERU 1824 8R PERU 1880 B BF 5P PUERTO RICO 1895 PGV 1P URUGUAY 1930 GOLD 5P

-

LATIN

NGC MS62 CORDOBA- LARGE SUN FACE 850. NGC MS61 LA RIOJA, WELL STRUCK 4,500. NGC MS62BN ESSAI 275. NGC AU58 BRIGHT, NICE LUSTER 475. NGC AU58 M.Y. BELZU, PRESIDENT 650. PCGS AU53 RARE LA/ES VARIETY 375. PCGS MS64 REDDISH/GOLDEN TONING 150. NGC MS63 ORIG. SURFACES, NICE TONE 575. NGC AU58 ATTRACTIVE, NEAR MS 6,600. NGC MS62 RARE EARLY JOAN V TYPE 6,900. NGC MS62 FLASHY PL FIELDS 2,400. ANACS MS64 CLEAR OVERDATE, FLASHY 275. XF RARE CRES/CCA VARIETY 950. NGC PF64RB ESSAI 350. NGC MS64 DEEP PROOFLIKE 1,600. NGC MS61 PQ- BOLD! 5,900. AU RARE TRANSITIONAL TYPE 3,000. NGC MS63 GREAT COLOR 375. NGC MS62 PQ FOR GRADE 1,250. PCGS MS63 SM. OBV. LAMINATION 2,800. ANACS MS62 LUSTROUS SATINY SURFACES 225. NGC MS64 EX- ELAISBERG 575. NGC MS64 SATIN SURFACES- NICE! 300. NGC MS63 ABC PESO, SCARCE DATE 375. NGC PF63BN ESSAI 175. NGC AU58 LT. IRIDESCENT TONING 800. NGC MS62 TRUJILLO ANNIV. 1,690. NGC AU55 RARE DATE 325. ICG MS64 GREAT TONING 250. NGC MS64PL BRILLIANT PL FIELDS 590. NGC AU55 VERY SCARCE IN GRADE 450. NGC MS61 LT. GOLDEN TONING 300. PCGS SP64 NEAR GEM SPECIMEN 225. NGC MS65 CHOICE FOR TYPE 250. AU ONE YEAR TYPE 700. NGC MS62 PQ FOR GRADE 1,900. NGC MS64RB NICE RED/BROWN COLOR 200. NGC MS61 EXCEPTIONAL FOR DATE 13,000. NGC AU53 NICE LUSTER 2,800. NGC MS62 ATTRACTIVE TONING 690. NGC AU58 BOLD STRIKE, PL 500. NGC XF45 ROYALIST C/S ON KM136, PQ 1,950. NGC MS63 W/DOT, ONE YEAR TYPE. 550. VF+ SCARCE ONE YEAR TYPE 875. NGC MS63 SCARCE TYPE 525.

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March 2012 USMEX Journal